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Bitcoin: Room Left for Another 30% Leg by aezakmi

View this thread on: hive.blogpeakd.comecency.com
· @aezakmi ·
$0.50
Bitcoin: Room Left for Another 30% Leg
## BTC/USD Weekly Chart

With yesterday's sudden drop, we closed the weekly candle right at the 50 MA and started the new one downwards. We have some 25% room left to reach the $11k levels and I think it is still doable. In [my previous post](https://steemit.com/hive-175254/@aezakmi/bitcoin-the-trend-line-battle) I mentioned that the $11500 level is an attractive target and a possible great short entry and I'm holding my opinion; I still believe that we could have a candle wick reaching that specific target. We have the RSI fighting at a descending trend line and could have it reach near the upper reference line in case of the $11500 price action. Closing the weekly (preferably monthly) candle above this level, would probably put us in a new bullish cycle.

![btcweekly.png](https://files.peakd.com/file/peakd-hive/aezakmi/VNAx3hnX-btcweekly.png)

## BTC/USD Daily Chart

On the daily we just reached the 21 EMA (yellow), with yesterday's candle wick extending to the 200 MA. Getting a higher high on the price, with a lower low on the RSI and MACD, would be perfect.


![btcdaily.png](https://files.peakd.com/file/peakd-hive/aezakmi/m010OErL-btcdaily.png)




![steem line 2.png](https://cdn.steemitimages.com/DQmYcTYvf6NrTJYQQgWebpedjuzpoRKc2WdAdHpuaY6Z1mv/steem%20line%202.png)



<center>![mywolf.gif](https://cdn.steemitimages.com/DQmYdJxHtrns6waecoP7wLGCy9ToPPiygHWGq2jUmoBfnGk/mywolf.gif)</center>

---

### <center>**Thanks for reading and safe trading!**&#9996;	</center>
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vote details (75)
@taskmaster4450le ·
You are not alone in the upside view.  I know many who are targeting the $11K-$12K area.

Posted Using [LeoFinance](https://leofinance.io/@taskmaster4450le/qa8bcj)
👍  
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@aezakmi ·
Well.. I'm very curious about what will happen when we'll reach this target.
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vote details (1)
@taskmaster4450le ·
I think it depends upon how it gets there. 

Going directly to that level, then it might be a pullback.  If there is a pullback before we get the $11K range, then it will likely just be part of a trend pushing things higher and could test the $14K level.

Posted Using [LeoFinance](https://leofinance.io/@taskmaster4450le/qa8df4)
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